(1,5875) The CABLE confirmed a very weak closing on Friday in the daily chart as well as in the weekly one suggesting further downside risk, especially while below the 200 days line, now resistance at 1,5909!! The indicators of the daily chart are still well negative as well as those of the weekly one supporting further pressure. The indicators of the s/t ones are also well negative with bullish divergences confirming still a negative tone. In the s/t we expect the CABLE to be a little oversold but while below 1,5910 we expect further weakness toward 1,55!! We stay on the sideline waiting for stronger signals.
Click here to read the full report: GBPUSD 01.21
Future Trend Research